Mining Crypto-Coins with NiceHash
CryptoCurrency has created a lot of buzz over the past years. It was insulted, attacked, ridiculed and finally it was accepted within our lives. Talking about BitCoin, a worldwide cryptocurrency and digital payment system also called as the first decentralized digital currency, is not only used today for trading multiple goods and services over the internet, but also is accepted as a legal currency in almost every country or territory. One may check the legality of Bitcoin in different nations here . It just like any other currency a nation has like USD, INR, YUAN... {IN ITS USE} but totally different from them in the way it is regulated and implemented. To know how cryptocurrency is different from these currencies i'll write another blog post. But for now lets see how could we mine crypto coins using a popular mining pool "NiceHash". The ones who are totally newbies to cyptocurrency and would like to know about the terms "mining pool", "mining coins" , "hashing" i'll be posting new articles soon to explain all the stuff.
NiceHash is another mining pool that provides its own GPU mining software. But from all the softwares i have tried and used, it seems to have an edge as per its ease of use, its automatic algorithm selection based on machine's hardware (CPU and GPU), its own benchmarking algorithm etc in one single application. I'll be explaining here how to start mining on your own Laptop/PC using NiceHash.
Requirements :
1. A PC/Laptop with GPU.
2. Internet Connection
3. Power Connection
Steps to setup your own NiceHash Mining in your Laptop/PC :
The process is just straightforward however i'll explain it step by step.
1. Go to NiceHash Website.
2. Click "For Sellers" Link in the Navigation bar at the top.
3. To sell your computing power you can use either your CPU/GPU, ASIC Machine or Rig Farm. Select Laptop/PC for here.
4. Download the NiceHash software by clicking the download button.
5. In the next page that opens, you must select the button corresponding to your graphics card (Nvidia or AMD). However having an AMD graphics card (GPU) is better, as it has more hashing power because of more more number of ALUs or Arithmetic Logic Units.
6. Now its time to install and benchmark your machine. Install the application first.
7. Open the application and configure the wallet first. The wallet must be a bitcoin wallet. If you don't have a wallet create one on ZEBPAY, [ see how to create a zebpay wallet here ] or any other bitcoin wallet. The wallet is like your bank account number to receive bitcoins to. The bitcoin wallet configure here is the receiving address of your account.
8. After adding wallet, run benchmark software to benchmark your CPU and GPU. Benchmarking tests your hardware to know which is the best algorithm to run on your machine and maximise you earnings automatically. This is one of the plus points in NiceHash Mining software as it does it all on its own.
9. After benchmarking, click start and your machine will be mining crypto-currency in now time. (No matter which currency is getting mined in the backend, you will get your payment in bitcoins once it reaches the threshhold.)
The threshold as per the NiceHash website is as follows :
Payment schedule for sellers:
Once per day for NiceHash wallet unpaid balances, greater than 0.001 BTC.
Once per day for external wallet unpaid balances, greater than 0.1 BTC.
Once per week for external wallet unpaid balances, greater than 0.01 BTC.
As shown in image, the total mined bitcoins are shown in the software window itself. However if you want to see the complete detailed statistics chart and statement of you mining machine, you can go to https://www.nicehash.com/miner and paste your bitcoin wallet address here to see detailed information.
NiceHash is another mining pool that provides its own GPU mining software. But from all the softwares i have tried and used, it seems to have an edge as per its ease of use, its automatic algorithm selection based on machine's hardware (CPU and GPU), its own benchmarking algorithm etc in one single application. I'll be explaining here how to start mining on your own Laptop/PC using NiceHash.
Requirements :
1. A PC/Laptop with GPU.
2. Internet Connection
3. Power Connection
Steps to setup your own NiceHash Mining in your Laptop/PC :
The process is just straightforward however i'll explain it step by step.
1. Go to NiceHash Website.
2. Click "For Sellers" Link in the Navigation bar at the top.
3. To sell your computing power you can use either your CPU/GPU, ASIC Machine or Rig Farm. Select Laptop/PC for here.
4. Download the NiceHash software by clicking the download button.
5. In the next page that opens, you must select the button corresponding to your graphics card (Nvidia or AMD). However having an AMD graphics card (GPU) is better, as it has more hashing power because of more more number of ALUs or Arithmetic Logic Units.
6. Now its time to install and benchmark your machine. Install the application first.
7. Open the application and configure the wallet first. The wallet must be a bitcoin wallet. If you don't have a wallet create one on ZEBPAY, [ see how to create a zebpay wallet here ] or any other bitcoin wallet. The wallet is like your bank account number to receive bitcoins to. The bitcoin wallet configure here is the receiving address of your account.
8. After adding wallet, run benchmark software to benchmark your CPU and GPU. Benchmarking tests your hardware to know which is the best algorithm to run on your machine and maximise you earnings automatically. This is one of the plus points in NiceHash Mining software as it does it all on its own.
9. After benchmarking, click start and your machine will be mining crypto-currency in now time. (No matter which currency is getting mined in the backend, you will get your payment in bitcoins once it reaches the threshhold.)
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| Running NiceHash Mining Software |
The threshold as per the NiceHash website is as follows :
Once per day for NiceHash wallet unpaid balances, greater than 0.001 BTC.
Once per day for external wallet unpaid balances, greater than 0.1 BTC.
Once per week for external wallet unpaid balances, greater than 0.01 BTC.
As shown in image, the total mined bitcoins are shown in the software window itself. However if you want to see the complete detailed statistics chart and statement of you mining machine, you can go to https://www.nicehash.com/miner and paste your bitcoin wallet address here to see detailed information.
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| Detailed Mining Statistics |
Optimize Mining:
1. Better the quality of GPU, better the mining.
2. Better the number of ALUs in GPU, better the mining.
3. Better the memory of GPU better the mining.
4. More the time you keep you machine up and running mining software, better the mining.
DownSide:
The Laptop/PC will become slow while you are mining as the computation power is getting sucked at this job.
That's all. Happy Mining!!
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